Acctg1 - Chapter 1

Objectives:

1.1 - I can define accounting terms related to starting a service business organized as a proprietorship.

1.2 - I can identify accounting concepts and practices related to starting a service business organized as a proprietorship.

1.3 - I can classify accounts as assets, liabilities, or owner’s equity and demonstrate their relationships in the accounting equation.

1.4 - I can analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation.

1.5 - I can prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation.